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. >> the worst is probably behind us. the concern about a double dip is over and that now we should take advantage of the favorable seasonals in particular now that the mid term elections will soon be over. >> tom: the blue chips surge nearly 200 points, closing out a fourth straight week to the upside. you're watching "nightly business report" for friday, september 24. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. the bulls are back on wall street. tom, investors were enthusiastic on some encouraging economic news: orders in august for things like machinery and computers were stronger than expected. >> tom: susie, this is the fourth week in a row that the major stock averages were positive and in a big way. let's run down the numbers from today's action. the dow jumped almost 200 points. the
. >> the worst is probably behind us. the concern about a double dip is over and that now we should take advantage of the favorable seasonals in particular now that the mid term elections will soon be over. >> tom: the blue chips surge nearly 200 points, closing out a fourth straight week to the upside. you're watching "nightly business report" for friday, september 24. this is "nightly business report" with susie gharib and tom hudson. "nightly business...
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Sep 1, 2010
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jeanine poggi reports for the street.com and joins us. welcome to nightly business report. >> >> thank you for having me. >> there are two broadly diversified retail exchange stocks. how diversified are they. >> two of them. they're pretty diversified. i would say the spider retail is more diversified stretching across the sector withholdings from tiffany and nordstrom to amazon and netflix. it's very equally weighed. >> the ticker simple is xrt. it has a broad basket of stocks, 65 in all. year to date up just under 1%. when we look at the stocks it holds the biggest weighting is less than 3% of over all. does this make it more aggressive or defensive? >> this a more aggressive etf. it's ac equally weighed. they can have a bigger sway than other etfs. >> the ticker is rth. compared to it's relative it's 18 stocks big. year to date down 7 percent plus. less diversified. 20% is in wal-mart. better than 10% each in home depot and amazon. is this more of a consumer staple retail. >> absolutely. this is for someone who doesn't feel the consume
jeanine poggi reports for the street.com and joins us. welcome to nightly business report. >> >> thank you for having me. >> there are two broadly diversified retail exchange stocks. how diversified are they. >> two of them. they're pretty diversified. i would say the spider retail is more diversified stretching across the sector withholdings from tiffany and nordstrom to amazon and netflix. it's very equally weighed. >> the ticker simple is xrt. it has a broad...
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Sep 24, 2010
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he joins us for an exclusive interview about our trade issues with china. you're watching "nightly business report" for thursday, september 23. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. president obama today met with china's premier in new york city, and, susie the leaders of the world's two biggest economies pledged to work together on boosting the global recovery. >> susie: but tom, in their public remarks, the men didn't talk about china's undervalued currency. instead, that's said to have topped the agenda for their private meeting. the issue-- keeping china's currency artificially low puts american exports at a disadvantage overseas. >> tom: lawmakers in washington, meantime, are closer than ever to acting on threats to penalize china over its currency. earlier today, i caught up with u.s. trade representa
he joins us for an exclusive interview about our trade issues with china. you're watching "nightly business report" for thursday, september 23. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. president obama today met...
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Sep 23, 2010
09/10
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the stadium has been using the gillette name since it opened in 2002. >> jeff: here's some good news for older homeowners. beginning next month, the federal housing administration will offer a new form of reverse mortgage, featuring lower up- front costs on smaller loans. reverse mortgages are already popular with seniors, but they do have some special conditions. in tonight's "money profiles" segment,chmidt looks at one elderly man's experience, and how he nearly lost his home: >> it makes me sick. >> reporter: it's a bittersweet homecoming for 83-year-old louis gouveia. >> how could anybody do this to somebody? >> reporter: several months ago, the north miami home the world war ii veteran bought in 1961 was ransacked by intruders, who trashed the property. >> somebody's been sleeping here. >> reporter: years earlier, the house had been paid off. it was home to the decorated serviceman and his wife for decades. this was taken in 1958 in the everglades. but when his wife of 48 years passed away, gouveia found himself alone and in debt--- badly needing cash. >> hey, i was broke, you k
the stadium has been using the gillette name since it opened in 2002. >> jeff: here's some good news for older homeowners. beginning next month, the federal housing administration will offer a new form of reverse mortgage, featuring lower up- front costs on smaller loans. reverse mortgages are already popular with seniors, but they do have some special conditions. in tonight's "money profiles" segment,chmidt looks at one elderly man's experience, and how he nearly lost his home:...
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Sep 7, 2010
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. >> susie: good evening, everyone, and thanks for joining us for this labor day special edition. the jobs picture just keeps getting worse. tom, back in january, the economy was adding jobs and the recovery was gaining momentum. then europe's debt woes exploded and the global recovery came to a grinding halt. >> tom: susie, the latest employment numbers aren't much help. 54,000 jobs disappeared from u.s. payrolls in august, and the unemployment rate hit 9.6 >> susie: so how bad is the employment picture, and how long will it take to get back to where we were before the recession started? suzanne pratt puts it in perspective. >> reporter: it seems lately that signs like these are extremely hard to come by. even though the great recession may technically be over, the labor market is far from recovered. the nation's unemployment rate hit 10% late last year and has hovered just below there ever since. but economist dan greenhaus says that widely quoted number understates the magnitude of the job crisis and the inequalities within it. >> if you're an advanced degree white guy working
. >> susie: good evening, everyone, and thanks for joining us for this labor day special edition. the jobs picture just keeps getting worse. tom, back in january, the economy was adding jobs and the recovery was gaining momentum. then europe's debt woes exploded and the global recovery came to a grinding halt. >> tom: susie, the latest employment numbers aren't much help. 54,000 jobs disappeared from u.s. payrolls in august, and the unemployment rate hit 9.6 >> susie: so how...
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Sep 22, 2010
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jeff yastine joins us. the federal reserve kept its key interest rate at zero, but said it's ready to take action to boost the economy when the time is right. that announcement came today as the fed wrapped up its policy meeting in washington. susie, one thing that stood out at this meeting is the fed is getting more worried about inflation. the problem is, inflation is too low, and below what the fed considers acceptable. >> susie: that could be the catalyst for the fed to pump more money into the economy. so what will the central bank do next? suzanne pratt reports. >> reporter: two more meetings. one two-day event in early november, the other in mid december. that's the window the fed has left this year to boost the economy. but, whether the central bank eases monetary policy in the next few months depends on what happens with the economy. and, fed watcher dana saporta says it's clear now that policymakers have linked their next move to inflation, or more specifically, the lack of it. >> i think the fed
jeff yastine joins us. the federal reserve kept its key interest rate at zero, but said it's ready to take action to boost the economy when the time is right. that announcement came today as the fed wrapped up its policy meeting in washington. susie, one thing that stood out at this meeting is the fed is getting more worried about inflation. the problem is, inflation is too low, and below what the fed considers acceptable. >> susie: that could be the catalyst for the fed to pump more...
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Sep 30, 2010
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Ü$ >> susie: the recession has had a big impact on us-- and not just our bank accounts. for some people, the financial crisis has strained personal relationships. with that in mind, tonight's "money file" looks at a financially friendly alternative to divorce court. here's julie stav, senior financial expert at univision. >> going through a divorce is never easy, but in what may be the worst economic downturn most of us have ever experienced, breaking up can be even more financially devastating due to increasing legal fees, overcrowded court calendars and the reduced values of homes, investments and retirement accounts. but, as it often occurs, out of desperation comes inspiration. and, according to recent studies by the institute for divorce financial analysts, only 1% of the cases using alternative divorce methods cost couples more than $15,000, compared with 11% of litigated cases. this new process, also called mediation, takes the litigation out of the courtrooms and replaces it with consultations in the offices of professionals like financial planners, mental- healt
Ü$ >> susie: the recession has had a big impact on us-- and not just our bank accounts. for some people, the financial crisis has strained personal relationships. with that in mind, tonight's "money file" looks at a financially friendly alternative to divorce court. here's julie stav, senior financial expert at univision. >> going through a divorce is never easy, but in what may be the worst economic downturn most of us have ever experienced, breaking up can be even more...
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Sep 16, 2010
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you can outsource everything to us, and piece to us. we can integrate for you and provide you with the hardware and software to meet your needs. we can provide were you you with consumer insights, and your web capabilities and ecommerce capabilities. and i think, for the first time you're going to find some of these companies who haven't had very stiff competition, will go unnamed, will find h.p. at their doorstep. >> very good. i thank you. >> thank you. >> tom: here's what we're watching for tomorrow: quarterly results from fedex, oracle and research in motion, along with the producer price index for august. treasury secretary timothy geithner testifies to a senate committee on exchange rate policies. also tomorrow, going after gamers. retailer gamestop launches a new online strategy to fend off bigger competition in the brick- and-mortar world. >> suzanne: u.p.s. is making waves in the shipping industry. today, the delivery giant launched a new ocean freight service. the move highlights the importance u.p.s. is placing on internation
you can outsource everything to us, and piece to us. we can integrate for you and provide you with the hardware and software to meet your needs. we can provide were you you with consumer insights, and your web capabilities and ecommerce capabilities. and i think, for the first time you're going to find some of these companies who haven't had very stiff competition, will go unnamed, will find h.p. at their doorstep. >> very good. i thank you. >> thank you. >> tom: here's what...
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Sep 4, 2010
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he joins us tonight from the c.m.e. group in chicago. >> thanks for having me back, tom. >> tom: you're looking for dividends in this market, with that in mind, what kind of stock market returns do you think investors should expect? >> i think in the short run, short run meaning the next three to six months, i think if you can get somewhere around a 5% to 6% return, you're going to be doing pretty well. i have a feeling we're going to see a market that is fairly range-bound here for the remainder of the year. thus it will be a two yards and a cloud of dust type market. if you can get return, especially from dividend yields, which i think are pretty good. that's what you should be looking at right now. >> tom: 5 or 6% over six months is 10 or 12%. that's much better than historic average? >> i think there is a potential for that. i think it will be back-loaded in the last three months as opposed to the remainder of this year. i think the market will probably struggle for the remainder of this year. january and february o
he joins us tonight from the c.m.e. group in chicago. >> thanks for having me back, tom. >> tom: you're looking for dividends in this market, with that in mind, what kind of stock market returns do you think investors should expect? >> i think in the short run, short run meaning the next three to six months, i think if you can get somewhere around a 5% to 6% return, you're going to be doing pretty well. i have a feeling we're going to see a market that is fairly range-bound...
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Sep 3, 2010
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captioning sponsored by wpbt >> tom: good evening, and thanks for joining us. ben bernanke said today it's a myth that lehman brothers could have been saved, perhaps preventing the financial crisis. susie, the fed chairman also says he's partly to blame for creating that myth. >> susie: tom, bernanke was the star witness on capitol hill today, answering questions from the financial crisis inquiry commission. the committee was commissioned by congress to figure out why lehman failed, and to answer the bigger question of what caused the financial crisis. >> tom: bernanke's testimony was a look at the lessons learned from the crisis and a look at how to prevent another one in the future. darren gersh reports. >> reporter: speaking to the financial crisis inquiry commission, federal reserve chairman ben bernanke admitted he thought lehman brothers was not merely facing a cash crunch when it failed. he thought the firm was very likely insolvent, a fancy way of saying it couldn't pay its debts. but in 2008, bernanke chose not to share that thought with congress. >> i
captioning sponsored by wpbt >> tom: good evening, and thanks for joining us. ben bernanke said today it's a myth that lehman brothers could have been saved, perhaps preventing the financial crisis. susie, the fed chairman also says he's partly to blame for creating that myth. >> susie: tom, bernanke was the star witness on capitol hill today, answering questions from the financial crisis inquiry commission. the committee was commissioned by congress to figure out why lehman failed,...
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Sep 8, 2010
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tom. >> tom: so draw the thread for us. how can investors be certain that a company's innovation leads to profit for the company and thusly to shareholders. >> if they get it right, consumers and other purchasers love what they have and keep buying. and the example is apple. they keep bringing out the great products. if you look at their numbers, profit was about $2 billion in 2006. and it is about $8 billion as of last year. the numbers add up, and the share price from 50 to 250 in that timeframe. >> tom: what is interesting about the list you brought along with you tonight is it is an non-technology list of innovators. beginning with wal-mart. innovation versus consumer spending. it is it consumer spending that cowbts at w.m.t.? >> i wanted to look at how innovation affects regular companies, like a retailer like wal-mart. the idea is wal-mart has gone green. the innovation factor is based on the top 50 most innovative companies. wal-mart rated very high because it is investing in sustainable effort. it is very ambitious,
tom. >> tom: so draw the thread for us. how can investors be certain that a company's innovation leads to profit for the company and thusly to shareholders. >> if they get it right, consumers and other purchasers love what they have and keep buying. and the example is apple. they keep bringing out the great products. if you look at their numbers, profit was about $2 billion in 2006. and it is about $8 billion as of last year. the numbers add up, and the share price from 50 to 250 in...
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Sep 28, 2010
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it brings us more access to new york's laguardia airport, as well as first-time access for us to reagan national airport in washington d.c.. >> susie: where kelly, why did you do it now? >> i feel like we're ready now. first of all, things are so much better today than they were a year ago. our profit outlook is solid. we have plenty of cash on hand. we have a very strong balance sheet, with credit rating agencies affirming our credit rating today. so financially we're very well prepared for this. we also have a very strong leadership team. who is ready to add this major task to our list. and then we have the tools in place today that we just haven't had in the past to optimize our route network and really generate significant revenues from optimizing schedules and also revenue management techniques. so it's been a very challenging economic environment. we would like to grow. we just haven't had opportunities to grow, and we're just delighted that we found this opportunity where with it we can grow and grow profitably. >> susie: analyst, call this deal a game changer. what do you think
it brings us more access to new york's laguardia airport, as well as first-time access for us to reagan national airport in washington d.c.. >> susie: where kelly, why did you do it now? >> i feel like we're ready now. first of all, things are so much better today than they were a year ago. our profit outlook is solid. we have plenty of cash on hand. we have a very strong balance sheet, with credit rating agencies affirming our credit rating today. so financially we're very well...
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Sep 2, 2010
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tonight's "street critique" guest joins us from the bank of new york. it is jonathan chaplin at credit suisse. welcome to "nightly business report." >> thanks, tom. >> tom: what has been fueling this performance that we've seen over the last quarter or so in telecom? >> i think it is pretty straightforward. it is primarily one thing: it's yield. as investors get concerned about growth concerns for the economy, 6% dividend yield for at&t and verizon stocks looks in increasingly compelling. you've got a better prospect of getting a return from that yield than other sectors in the economy. >> tom: it sounds like quite a defensive play. but what about the growth expectations for this sector? are there any? >> it is not going to be a sector that grows the top line at g.d.p. or above for the foreseeable future. but this is a company that can -- an industry that can generate a fair amount of earnings growth in the low-growth economic environment. so with 1% revenue growth, telecom companies can generally knock out 3 3 plus percent earnings growth. >> tom: one
tonight's "street critique" guest joins us from the bank of new york. it is jonathan chaplin at credit suisse. welcome to "nightly business report." >> thanks, tom. >> tom: what has been fueling this performance that we've seen over the last quarter or so in telecom? >> i think it is pretty straightforward. it is primarily one thing: it's yield. as investors get concerned about growth concerns for the economy, 6% dividend yield for at&t and verizon...
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Sep 11, 2010
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tom, those are the two words president obama used today to describe the pace of growth in the u.s. economy. and the economy was a big topic at his white house news conference this morning. >> tom: the other big topic, susie, was the president's announcement of his new top economic advisor. he's austan goolsbee. goolsbee has been on the president's economic team. he now becomes chairman of the white house council of economic advisors, replacing christina romer, who left to return to teaching. >> susie: the president used today's press briefing to push his agenda for reviving the economy, from tax breaks to a small business jobs bill. washington bureau chief darren gersh reports. >> reporter: the president today acknowledged what many americans know too well-- economic progress has been painfully slow. still, he urged voters to stay the course this on election day. >> if it was just a referendum on whether we have made the progress we need to, then people around the country will say that we are not there yet. if the election is about the policies that are going to move us forward, ve
tom, those are the two words president obama used today to describe the pace of growth in the u.s. economy. and the economy was a big topic at his white house news conference this morning. >> tom: the other big topic, susie, was the president's announcement of his new top economic advisor. he's austan goolsbee. goolsbee has been on the president's economic team. he now becomes chairman of the white house council of economic advisors, replacing christina romer, who left to return to...
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Sep 18, 2010
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so, silver is used around the world. so, as economic growth improves in places like india, china and the developing nations, that typically can be helpful for silver demand. >> reporter: the rally in metals has been so strong in recent days, some profit taking is expected. but analysts still see the outlook as positive over the months ahead. >> now that we've broken over these new highs, we have long positions on the comex, we certainly have big builds up in the e.t.f.'s, it's possible that we're going to see some profit- taking over the couple of months to come, but i think as we go into the elections we'll still see the pot boiling on gold right now. >> reporter: even at current levels, gold has a long way to go to reach its inflation- adjusted all-time high. that would be between $2,200 and $2,300 an ounce. scott gurvey, "nightly business report," new york. >> suzanne: setting up the new consumer financial protection bureau is a job that can't wait. that's what president obama said today, as he tapped elizabeth warren
so, silver is used around the world. so, as economic growth improves in places like india, china and the developing nations, that typically can be helpful for silver demand. >> reporter: the rally in metals has been so strong in recent days, some profit taking is expected. but analysts still see the outlook as positive over the months ahead. >> now that we've broken over these new highs, we have long positions on the comex, we certainly have big builds up in the e.t.f.'s, it's...
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Sep 10, 2010
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so 10 year us-- u.s. yields down towards the crisis lows that has been something that weighed on the dollar broadly but especially against the yen. >> tom: let's look at a 12 month chart of the dollar against the yen n may it took 59 yen to buy one u.s. dollar, today closer to 83. that is but about a 12% drop if the dollar's value yens the yen. does it show any signs of stopping? >> i think this is a patience game for a lot of investors who already started selling the yen. but i do think at some point the yen is going to weaken. it is just a 3459er of when, not if. why it is a when, in the case of japan you have entrenched deflation. the strong yen makes that work. interest rates are already ten basis points. they can't cut them much further. they are already trying quantity at that timeive easing to add liquidity and create some inflation in the market. there is not much left they can do to try to get some inflation going in their economy to support growth except the yen. and we're starting to hear that
so 10 year us-- u.s. yields down towards the crisis lows that has been something that weighed on the dollar broadly but especially against the yen. >> tom: let's look at a 12 month chart of the dollar against the yen n may it took 59 yen to buy one u.s. dollar, today closer to 83. that is but about a 12% drop if the dollar's value yens the yen. does it show any signs of stopping? >> i think this is a patience game for a lot of investors who already started selling the yen. but i do...
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Sep 17, 2010
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we want to use that and use our associates to help drive us into the digital space. >> among the new titles he hopes will drive sales a familiar name to those older gamers, a new conkey kong game is due out before thanksgiving. >> susie: here's what we're watching for tomorrow: the consumer price index from august is released. our "market monitor" guest is elaine garzarelli, president of garzarelli capital. also tomorrow, household products tarn-x and c.l.r. are well-known brands. but did you know they're made by a small family business? we'll introduce you to the people behind jelmar in our "all in the family" series. mortgage rates inched higher for a second week in a row. freddie mac says the average rate on a 30-year fixed rate mortgage was 4.37%. while that's just off the historic low set two weeks ago, cheap borrowing costs haven't meant a boost in home sales. economists think that's because people are worried about job security and the bumpy recovery. >> tom: meanwhile, lenders took back more homes in august than any month since the mortgage crisis began. real estate data firm
we want to use that and use our associates to help drive us into the digital space. >> among the new titles he hopes will drive sales a familiar name to those older gamers, a new conkey kong game is due out before thanksgiving. >> susie: here's what we're watching for tomorrow: the consumer price index from august is released. our "market monitor" guest is elaine garzarelli, president of garzarelli capital. also tomorrow, household products tarn-x and c.l.r. are well-known...
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Sep 15, 2010
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captioning sponsored by wpbt >> tom: good evening and thanks for joining us. the nation's retailers had a relatively strong back-to-school selling season, and susie, that has investors and traders wondering how the sector will do this holiday season. >> susie: tom, the commerce department reports retail sales rose for the second straight month in august. sales were up a better-than- expected four-tenths of a percent last month, while july's sales were also revised higher. >> tom: with "back to school" in the rear view mirror, retailers are looking ahead to the holiday selling season. many stores are deciding now how many temporary workers to hire, if any. as erika miller explains, those decisions can provide some important hints about the strength of holiday sales. >> reporter: in brooklyn, under the manhattan bridge, is a gift shop called stewart/stand. it's a family-owned business-- penelope runs the store, while her brother-in-law paul is in charge of the wholesale division. though it's only september, the two are already finalizing holiday hiring decisions
captioning sponsored by wpbt >> tom: good evening and thanks for joining us. the nation's retailers had a relatively strong back-to-school selling season, and susie, that has investors and traders wondering how the sector will do this holiday season. >> susie: tom, the commerce department reports retail sales rose for the second straight month in august. sales were up a better-than- expected four-tenths of a percent last month, while july's sales were also revised higher. >>...
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Sep 9, 2010
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coming up, he'll tell us what stocks he's buying. >> susie: b.p. today released its own findings about what went wrong on the deepwater horizon rig. the oil giant takes some responsibility for the deadly disaster, but says it was a chain of events involving multiple companies that led to the accident. b.p. began its investigation immediately after the explosion and released the results today in a 200-page report. stephanie dhue has more. >> reporter: today's report says the problem started with a bad cement job that caused dangerous gases to leak into the well undetected. crew members misread tests and thought the well was under control, and didn't act until it was too late. the blowout preventer, which should have sealed the well, failed. b.p. took responsibility for its decisions on the rig, but also blamed halliburton for the cement job and rig operator transocean, which maintained the blowout preventer. transocean called b.p.'s report a "self-serving attempt to conceal... b.p.'s fatally flawed well design." b.p. says the well design is sound an
coming up, he'll tell us what stocks he's buying. >> susie: b.p. today released its own findings about what went wrong on the deepwater horizon rig. the oil giant takes some responsibility for the deadly disaster, but says it was a chain of events involving multiple companies that led to the accident. b.p. began its investigation immediately after the explosion and released the results today in a 200-page report. stephanie dhue has more. >> reporter: today's report says the problem...
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Sep 24, 2010
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. >> it's a little difficult for us right now. there is competition. a lot of the friends who graduated with me are looking for the same position, and we all have the same credential. so there is a tough competition. >> reporter: does that make you worried at all? >> of course, because i really don't know when i'm going to get a job. hopefully soon. >> reporter: another problem: there are thousands of nurses and technicians who would normally be retiring right now. but the bad economy has them staying on the job. dade medical college c.e.o. ernesto perez thinks that's a short term situation. >> it's a logjam, but it's a logjam that in the not-too- distant future. the dam is going to be burst. we're looking at 1.8 million people in medicaid, that will impacting the state of florida directly by most estimates. when you look at that, we're going to be needing nurses, technologists, physicians. >> reporter: as for our stock broker turned nurse... he shook a lot of hands, and talked with a lot of people, and he's convinced he'll soon find a nursing job. >>
. >> it's a little difficult for us right now. there is competition. a lot of the friends who graduated with me are looking for the same position, and we all have the same credential. so there is a tough competition. >> reporter: does that make you worried at all? >> of course, because i really don't know when i'm going to get a job. hopefully soon. >> reporter: another problem: there are thousands of nurses and technicians who would normally be retiring right now. but...
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Sep 21, 2010
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is it too late for us to jump- start u.s. manufacturing? >> i don't think it is. i think it's very important to do so. a lot of innovation is what i would call innovation on the shop floor. it matters that you're exposed to the actual manufacturing to learn how to do things better. it's very good jobs. what we need to do is stop tying our hands behind our back. stop ridiculously litigation costs, stop the corporate tax system that is highly uncompetitive. stop health care mandates that are threatening business and stop policy uncertainty. no one is saying subsidize manufacturing. let the energies of the private sector work. >> susie: is there any more than the federal reserve can do? policy makers meet tomorrow. >> there's some more the federal reserve can do in terms of long-term asset purchases but i don't think there's much more the fed can do at this point. what this really requires is a more stable government policy environment. >> susie: if president obama called you up and said, i want your advice, what's the key take-away message you would like him to get
is it too late for us to jump- start u.s. manufacturing? >> i don't think it is. i think it's very important to do so. a lot of innovation is what i would call innovation on the shop floor. it matters that you're exposed to the actual manufacturing to learn how to do things better. it's very good jobs. what we need to do is stop tying our hands behind our back. stop ridiculously litigation costs, stop the corporate tax system that is highly uncompetitive. stop health care mandates that...